The End for Kadena
The Kadena Layer-1 blockchain has announced that it will be sunsetting operations and maintenance of the network due to the current market environment.
As announced by the project, a small team will be retained to handle matter during the winding down period.
Kadena also added that new software will be released to enable independent nope operators to run the network without the team’s involvement.
As for the network’s native KDA token, the team is currently planning the distribution of over 83M tokens scheduled to be unlocked next month.
Another 566M tokens, slated to be emitted as mining rewards until 2139, have yet to be released.
Since Kadena announced its closure, the value of KDA has plunged by 57.6% from $0.21 to $0.09.
Maple Money Market
Credit platform Maple Finance has teamed up with Aave to integrate yield-bearing stablecoins on its platform.
Through the proposed integration, Maple’s syrupUSDC and syrupUSDT tokens will be listed on Aave’s core lending markets on Ethereum and Plasma, respectively.
Holders will then be able to deposit these tokens to borrow other crypto assets, while earning up to 7% APY with additional SYRUP token incentives.
However, the implementation is still subject to approval by the Aave DAO.
Although the price of SYRUP surged by 7.9% to a peak of $0.38 shortly after the partnership was announced, it has retraced and fallen further to $0.35 today.
Coinbase Comes for Cobie
After crypto exchange Coinbase announced its purchase of the UpOnly NFT from Cobie, it seems that that wasn’t the only thing that they purchased from the popular crypto influencer.
As announced by Coinbase and reported by the Wall Street Journal, the exchange has also purchased Cobie’s Echo fundraising platform for $375M.
According to a newly released blog post, Coinbase aims to leverage the acquisition to build a new full-stack platform for crypto investors and founders.
The upcoming platform will utilize Echo and its permissionless counterpart Sonar to offer capital fundraising tools to builders, while providing new opportunities to investors.
With this deal, most of the Echo personnel will now be a part of Coinbase, while the platform will become part of Coinbase’s product suite.
However, Cobie has clarified that Echo will remain as a standalone product for the time being, while Sonar will be integrated on the exchange.
Vibe-coded
Solana founder Anatoly Yakovenko has uploaded code for a perpetuals exchange onto Github, known as ‘Percolater’.
He later revealed that it was just him messing around on Claude and had made the repository public by accident.
However, he has also invited other developers to steal his idea, and wants to see if a competitive protocol can be built using his template.
Shortly after the code for Percolater was leaked, a memecoin named after the project was launched, reaching a peak market cap of $6M.
Not this Year
We might have to wait a little longer for the SEA token to go live.
The platform’s CEO, Devin Finzer, clarified that the token will be launched in the first quarter of 2026.
Additionally, 50% of the token supply will be distributed to the NFT community, with at least 25% earmarked for an initial airdrop to eligible users.
These users include participants of OpenSea’s current rewards program as well as past ‘OG’ users of the platform.
Upon the launch of SEA, Finzer also explained that 50% of the platform’s revenue will be directed towards token buybacks.
Users will also be able to ‘stake SEA’ on certain NFT collections and tokens, possible to earn a share of trading volume or other incentives.
However, the OpenSea team has yet to disclose other vital information such as the total token supply, or how the airdrop will be divided among the community.
SEA is currently trading at a valuation of $1.83B on Aevo’s pre-markets.
From Views to Trading volumes
James Stephenson, or popularly known as MrBeast, has filed a trademark for a new crypto superapp known as MrBeast Financial.
The app will include services for investment banking, microlending and swapping crypto assets through DEXes.
No other information has been revealed as of yet.
However, it is worth noting that MrBeast may be filing this trademark as defensive measure to prevent future misuse.
MrBeast himself has dabbled in crypto in the past, investing in various crypto projects and has purchased several CryptoPunks as well.
In Other News
Update Support Ends for Solana Saga. The Solana Saga mobile phone will no longer be supported with future security updates after just two short years. Solana Mobile is instead focusing its efforts on Saga’s successor, the Solana Seeker.
Remember Slerf? The developer of Solana memecoin Slerf infamously burnt $10M of pre-sale funds on accident prior to its launch. This was before Pump.fun where memecoins were launched mostly through pre-sales and airdrops. Now, 19 months later, the Slerf dev has finally refunded every pre-sale participant in Solana tokens.
Pump.fun Streamer Sam Pepper Banned. Popular streamer Sam Pepper has just been banned after a firework stunt during his livestream injured a young teen girl in New Delhi. Though Pepper said that he had covered the girl’s hospital fees, it appears she may have been permanently injured by the incident.
Jupiter Unveils Prediction Market. The Solana DeFi superapp continues to grow its product suite. This time, Jupiter is partnering up with Kalshi to offer prediction market services.
Limitless Tokenomics Revealed. Limitless, an upcoming prediction market which has recently garnered attention for its involvement in the Binance listing saga, has unveiled the tokenomics details of its LMTS token. LMTS has a token supply of 1B with 24.37% of tokens earmarked for airdrops.
Solana ETFs Live Soon in Hong Kong. Spot Solana ETF starts trading in Hong Kong for the first time on October 27. Hong Kong’s approval comes amid expectations that the US would similarly approve spot Solana ETFs. Unfortunately, plans for a US approval are halted as the government is experiencing a shutdown.
On-chain Malware. Google Threat Intelligence Group researchers found that North Korean state hackers have been using EtherHiding, malware that hides in blockchain smart contracts. These malicious smart contracts have so far been detected in the BNB chain and Ethereum.
Dogecoin Owned Soccer Club. House of Doge, the Dogecoin Foundation’s commercial arm, has acquired a controlling stake in U.S. Triestina Calcio 1918, an Italian soccer club. The Dogecoin team further announced that Toronto Blue Jays Vice Chairman Roger Rai is joining their advisory board on sports related matters.
Solana Founder Vibe Codes a Perp DEX. Solana founder Anatoly Yakovenko has uploaded code for a perpetuals exchange onto Github. He later revealed that it was just him messing around on Claude and invited other devs to steal his idea.
Coinbase Buys $25M NFT from CT Influencer “Cobie”. Coinbase CEO Brian Armstrong confirmed on X that Coinbase has purchased the UpOnly NFT from Cobie. The purchase signals and confirms that Coinbase will be sponsoring and bringing back the UpOnly podcast with Cobie as its host.
SpaceX on the Move. Elon Musk’s SpaceX moved 2,495 BTC worth $270M to two unmarked addresses on Tuesday. This marks the firm’s first BTC move since July. Arkham Data called the move “the first material change to the company’s total bitcoin holdings since June 2022”.
Stripe Raises $500M for Tempo L1. Tempo, Stripe’s stablecoin L1 has raised $500M at a $5B valuation. Notable investors include Greenoaks and Thrive Capital. Tempo also hired Dankrad Feist, a notable Ethereum developer, sparking some controversy.
The Continuation of BTC ETF Outflows. This week US spot BTC ETFs shed $1.2B, marking the second largest weekly outflow since BTC ETFs were incepted.
Japan Mulls Over Allowing Banks to Trade Crypto. Japan’s Financial Services Agency is allegedly currently in talks at a potential regulatory reform which would allow local banks to buy and sell crypto.
Chinese Stablecoins on Hold. China has reportedly stepped in to stop several Chinese tech giants from issuing their own stablecoins in Hong Kong. Tech giants who had their plans slowed down include Ant Group and JD.com.